Capstone Partners served as the exclusive financial advisor to Norris Sales Company, Incorporated in its sale to United Rentals, Inc. (NYSE:URI), the world’s largest equipment rental company.
Headquartered in Conshohocken, Pennsylvania and leveraging a 65-year family-owned operating history, Norris is the leading independent one-stop-shop provider of equipment rental and sales, parts and maintenance/repair services to the greater Philadelphia and mid-Atlantic regions.
Norris serves a diverse mix of nonresidential construction and commercial customers with a majority of revenue generated from nondiscretionary infrastructure and utility maintenance/repair work.
United Rentals is a publicly traded equipment rental company with over $13 billion of deployed fleet and a market capitalization of approximately $24 billion.
Capstone Partners is a market leader in the equipment rental/dealer space having completed multiple transactions and published authoritative research.
[Capstone Partners] was the ideal advisor for Norris Sales. As a multi-generation family business, we needed a banker who understood our industry, respected our concern for confidentiality and guided us on a path to an outstanding outcome. [Capstone] was committed to the process from beginning to end, sweated every detail and exhibited great negotiating skills. [Capstone] demonstrated patience, professionalism, integrity and attention throughout the process. Importantly, while [Capstone] identified a variety of attractive options for the family, United Rentals distinguished itself as the right partner for Norris – we’re confident that UR will continue the legacy we’ve built by offering our employees and customers expanded resources and growth opportunities
